Grow-your-own talent initiatives increasing
Businesses are increasingly harnessing emerging talent to mitigate against ongoing skill shortages. That is according to an analysis by global talent acquisition and management firm, Alexander Mann Solutions.
The organisation has reported a rise in businesses implementing or scaling up existing internship, apprenticeship and graduate schemes to safeguard against future skills shortages in an increasingly VUCA (volatile, uncertain, complex and ambiguous) environment. This comes following the latest research from the Chartered Institute of Personnel Development (CIPD), which revealed that 75% of organisations are developing more talent in-house in 2017, representing a sharp rise since last year when 48% of firms reported they were ramping up internal training schemes.
Sandrine Miller, Global Head of Emerging Talent Consulting, at Alexander Mann Solutions explains:
“Businesses are increasingly becoming more strategic around how they attract, engage and retain top talent. And while client initiatives differ depending on individual business needs, there is one common theme: a greater emphasis on organisations ‘growing their own’ skilled workforces.”
“Rapidly changing skills requirements mean that firms are realising the value of identifying emerging talent with requisite core competencies that they are able to ‘mould’ in line with business needs, rather than seeking professionals with specific experience.”
“However, success in this approach lies in engagement. Attracting high-potential individuals relies on a strong and compelling employer value proposition which is communicated through relevant channels. As we see a rise in digital roles amongst graduates and apprentices, the same focus on digital is seen in the ways in which companies are engaging with their candidates. These tactics including a seamless digital attraction strategy, fully automated selection process or perhaps virtual reality assessments. Proactively optimising the candidate’s experience using the latest digital technologies is key.”
“An end-to-end service from attraction to programme management is also being utilised, specifically across the Financial and Professional Services sectors, ensuring the messages we communicate pre-hire are then delivered throughout the learning journey post-programme into an individual’s first role. The days of primarily utilising offline, on-campus, recruitment drives are coming to an end. Instead, businesses must harness the power of digital communications to tap into these rich talent pools more effectively than their competitors.”